Biden’s Big Biotech Boost

Sep 16, 2022

Beans are getting a big-time boost. Thanks to a recently signed executive order, President Biden has started a new biotech and biomanufacturing initiative that will help create more downstream demand for soybeans.

What this means: By improving markets for biobased products and encouraging R&D in the area, soy growers can expect a more heavily supported market in the future. In short, the ag industry is pleased. Gasp!

Happy, happy, happy: The American Soybean Association issued a press release giving high praise to the executive order. Included was a list of items “appreciated by soy,” including:

  • The Data for the Bioeconomy Initiative, which will use data to drive breakthroughs in the bioeconomy
  • Various agencies taking steps to expand domestic biomanufacturing and biobased product manufacturing
  • An emphasis on federal agency procurement of biobased products, overseen by USDA

Soundbite: “This announcement puts in place steps that will help our industry continue to use soybeans to develop innovative, sustainable products that can help lower greenhouse gas emissions and create more jobs for not only agriculture but all Americans.” – Brad Doyle – President of the American Soybean Association

But it’s not just soy, y’all: Improved biotech could make waves through the whole food industry. Beyond soybeans, both corn and cotton have long since adopted genetically modified seeds, for example.

Meanwhile, other companies are using biotech for things like precision fermentation, and genetic modification of plants to produce proteins. More biotech could pave the way to a more sustainable food supply.